West Texas Intermediate added some 51% over last month, currently trading at over $100 per barrel as President Trump indicated the war against Iran was not coming to a swift end. The Wall Street Journal reported that the price rise represented a difference of $34.36, which was the highest monthly price climb since WTI futures started trading on the commodity exchange, back in 1983.
Oil prices jumped by nearly 7% on Thursday after US President Donald Trump reiterated threats to hit Iran “extremely hard” in the coming weeks and failed to give concrete details on how the war will end.
Curious Minds Corner
What is Saudi Aramco known as?
Saudi Aramco is the Middle Eastern oil company often considered the world’s most valuable, despite not being publicly traded.